Nextera Energy

NextEra Energy (NYSE: NEE) is a leading sustainable energy company generating, transmitting, and distributing electric power across North America. Originally known as FPL Group, it was publicly listed on the NYSE in 1972 and rebranded as NextEra Energy Resources in 2010. In 2023, the company was the world’s largest generator of solar and wind energy and placed in the coveted Fortune 200 list. It recorded a revenue of USD 28.1 billion in 2023.

NextEra Energy operates through two primary reporting segments:

NextEra Energy Resources (NEER) (~65% of total revenue in 2023): Engages in the development, construction, and operation of long-term contracted assets throughout the US and Canada, primarily consisting of clean energy assets, such as renewable generation facilities and electric transmission facilities. It also invests in other clean energy solutions like battery storage and renewable fuels. As of December 31, 2023, it had a total generating capacity of more than 30,600 megawatts in the US and Canada.

Florida Power & Light Company (FPL) (34%): A rate-regulated facility engaged in the generation, transmission, distribution, and sale of electric energy to nearly 6 million customer accounts. It is the largest electric utility in Florida and one of the largest in the US. As of December 31, 2023, FPL had 33,276 MW of net generating capacity, around 90,000 circuit miles of transmission and distribution lines, and 883 substations.

NextEra Energy operates in 49 US states and four Canadian provinces with a net generating capacity of 59,500 MW. It intends to drive energy affordability and US energy independence by leveraging low-cost renewables and has invested over USD 40 billion in its renewable energy portfolio since 2012. Furthermore, as of 2021, it had reduced its carbon emissions by 58% (from the 2005 baseline) and has plans to reach net zero by 2045.